I am an LLC taxed as an S-Corp. I am the owner and 100% shareholder. I took Draws during the year in addition to my salary. Would my total draws for 2019 be included in the Turbo Tax question in "Shareholders" tab about if the company made distributions to shareholders? In other words, do I report money the company paid to myself as a draw here?
@MJSarros wrote:
Would my total draws for 2019 be included in the Turbo Tax question in "Shareholders" tab about if the company made distributions to shareholders? In other words, do I report money the company paid to myself as a draw here?
You report distributions in the Business Info tab>>Shareholder Information (see screenshot).
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